Security News > 2020 > December > NortonLifeLock Shells Out $360M to Acquire Avira
2020-12-07 16:39
Looking to beef up its portfolio of consumer security software, NortonLifeLock on Monday announced an all-cash $360 million deal to snap up German anti-virus firm Avira.
The deal gives NortonLifeLock an immediate foothold in the European market, where Avira is known for providing a freemium anti-malware product to about 30 million devices.
Avira claims about 1.5 million paying subscribers and a white-label business that pushes the software to about 500 million partner devices.
Upon deal close, Avira CEO Travis Witteveen and CTO Matthias Ollig will join the NortonLifeLock leadership team.
"I am delighted to welcome Avira to the Norton family," said NortonLifeLock chief executive officer Vincent Pilette.